The following estimated regression equation has been developed to predict selling prices for condominiums in a suburban area. (Be sure to pay attention to units!)

= 19 4x₁ + 6x₂ + 13x₃

where

• the distance to the nearest hospital (in miles)
• the square footage of the condominium (in 100s)
• 1 if the condominium has a garage; 0 otherwise
• = estimated selling price (in $1,000s)

(a)What is the interpretation of 13 (the coefficient of

x₃)

in the regression equation? (Give the answer in dollars.)Selling price in dollars for condominiums ---Select--- with without garages are on average $ higher than those ---Select--- with without garages.(b)Predict the selling price for a condominium that is 4 miles from the nearest hospital, with a size of 1,900 square feet, and with a garage (give the answer in dollars).$ (c)Predict the selling price for a condominium that is 4

x₃ =

x₂ =

x₁ =